(May 21, 2015) 

On May 21, 2015 the Swiss Federal Department of Finance (FDF) issued a press release announcing that on May 19, 2015 Switzerland and Grenada signed a Tax Information Exchange Agreement (TIEA).

According to the Swiss FDF the agreement has not entered into force yet. The TIEA will enter into force after both countries have finalized their respective ratification procedures.

Based on paragraph 1 of Article 3 of the TIEA the taxes which are the subject of this Agreement are:

a)   in Switzerland;

i)            the federal, cantonal and communal taxes on income (total income, earned income, income from capital, industrial and commercial profits, capital gains, and other items of income);

ii)           the federal, cantonal and communal taxes on capital;

iii)          the cantonal and communal inheritance and gift taxes;

b)   in Grenada:

i)             the personal income tax;

ii)            the corporate income tax.

Paragraph 2 of Article 3 of the TIEA determines that the Agreement shall apply to any identical taxes imposed after the date of signature of the Agreement in addition to or in place of the existing taxes. This Agreement shall also apply to any substantially similar taxes imposed after the date of signature of the Agreement in addition to or in place of the existing taxes if the competent authorities of the Contracting Parties so agree.

Article 5 of the TIEA contains regulations regarding the Exchange of Information upon Request and Article 6 contains regulations regarding the Possibility of Declining a Request.

Click on the language of your choice (English, German or French) to be forwarded to the text of the TIEA as published on the website of the Swiss Federal Department of Finance (FDF), which will open in a new window. 

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